Obligation OceanTransit Inc. 1.5% ( US893830AW97 ) en USD

Société émettrice OceanTransit Inc.
Prix sur le marché 100 %  ⇌ 
Pays  Suisse
Code ISIN  US893830AW97 ( en USD )
Coupon 1.5% par an ( paiement semestriel )
Echéance 14/12/2037 - Obligation échue



Prospectus brochure de l'obligation Transocean Ltd US893830AW97 en USD 1.5%, échue


Montant Minimal 1 000 USD
Montant de l'émission 2 000 000 000 USD
Cusip 893830AW9
Notation Standard & Poor's ( S&P ) NR
Notation Moody's NR
Description détaillée Transocean Ltd. est une société internationale de forage offshore fournissant des services d'ingénierie et d'exploitation de plates-formes de forage à l'industrie pétrolière et gazière mondiale.

L'Obligation émise par OceanTransit Inc. ( Suisse ) , en USD, avec le code ISIN US893830AW97, paye un coupon de 1.5% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/12/2037

L'Obligation émise par OceanTransit Inc. ( Suisse ) , en USD, avec le code ISIN US893830AW97, a été notée NR par l'agence de notation Moody's.

L'Obligation émise par OceanTransit Inc. ( Suisse ) , en USD, avec le code ISIN US893830AW97, a été notée NR par l'agence de notation Standard & Poor's ( S&P ).







file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
424B5 1 a2181454z424b5.htm 424B5
Use these links to rapidly review the document
TABLE OF CONTENTS
TABLE OF CONTENTS
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-147785
CALCULATION OF REGISTRATION FEE
Maximum
Title of Each Class of
Amount to
Registration
Offering
Securities to Be Registered

be Registered

Fee

Price

1.625% Series A Convertible Senior Notes due
$
2,200,000,000
100%
$
67,540(1)
2037
1.50% Series B Convertible Senior Notes due 2037 $
2,200,000,000
100%
$
67,540(1)
1.50% Series C Convertible Senior Notes due 2037 $
2,200,000,000
100%
$
67,540(1)
Total
$
6,600,000,000


$
202,620(1)
(1)
Such fee was paid by the Registrant by wire transfer on December 5, 2007.
Prospectus Supplement to Prospectus dated December 3, 2007.

$2,000,000,000 1.625% Series A Convertible Senior Notes due 2037
$2,000,000,000 1.50% Series B Convertible Senior Notes due 2037
$2,000,000,000 1.50% Series C Convertible Senior Notes due 2037
We are offering $2,000,000,000 principal amount of 1.625% Series A Convertible Senior Notes due 2037 (the "Series A notes"),
$2,000,000,000 principal amount of 1.50% Series B Convertible Senior Notes due 2037 (the "Series B notes") and $2,000,000,000
principal amount of 1.50% Series C Convertible Senior Notes due 2037 (the "Series C notes") (together with the Series A notes and the
Series B notes, the "notes"). The notes will be our unsecured obligations and will rank equally with all of our existing and future
unsecured, unsubordinated debt.
We will pay cash interest on the notes at an annual rate of 1.625% on the Series A notes, 1.50% on the Series B notes and 1.50%
on the Series C notes. Interest on the notes is payable on June 15 and December 15 of each year, beginning June 15, 2008.
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (1 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
The notes will mature on December 15, 2037. We may redeem some or all of the notes for cash after December 20, 2010, in the
case of the Series A notes, December 20, 2011, in the case of Series B notes and December 20, 2012 in the case of Series C notes, in
each case at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus any accrued and unpaid interest
to, but excluding, the redemption date.
Holders of Series A notes and Series B notes will have the right to require us to repurchase their notes on December 15, 2010
and December 15, 2011, respectively. In addition, holders of any series of notes will have the right to require us to repurchase their
notes on December 14, 2012, December 15, 2017, December 15, 2022, December 15, 2027 and December 15, 2032 or upon a
fundamental change, in each case as further described in this prospectus supplement, at a repurchase price in cash equal to 100% of the
principal amount of the notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the repurchase date.
The notes will be convertible in certain circumstances into cash and a number of our ordinary shares determined as described in
this prospectus supplement. The initial conversion rate of the notes is 5.9310, equivalent to a conversion price per ordinary share of
approximately $168.61. These initial conversion rates are subject to adjustment upon the occurrence of certain corporate events but not
for accrued interest. In addition, if certain fundamental changes occur on or before December 20, 2010, with respect to Series A notes,
December 20, 2011, with respect to Series B notes or December 20, 2012, with respect to Series C notes, we will in some cases increase
the conversion rate for a holder electing to convert notes in connection with such fundamental change.
Holders may convert their notes only under the following circumstances: (1) during any calendar quarter after March 31, 2008 if
the last reported sale price of our ordinary shares for at least 20 trading days in a period of 30 consecutive trading days ending on the
last trading day of the preceding calendar quarter is more than 130% of the conversion price, (2) during the five business days after the
average trading price per $1,000 principal amount of the notes is equal to or less than 98% of the average conversion value of such notes
during the preceding five trading-day period as described herein, (3) during specified periods if specified distributions to holders of our
ordinary shares are made or specified corporate transactions occur, (4) prior to the close of business on the business day preceding the
redemption date if the notes are called for redemption or (5) on or after September 15, 2037 and prior to the close of business on the
business day prior to the stated maturity of the notes. Upon conversion, we will deliver, in lieu of ordinary shares, cash up to the
aggregate principal amount of notes to be converted and ordinary shares in respect of the remainder, if any, of our conversion obligation
in excess of the aggregate principal amount of the notes being converted.
We have also granted to the underwriters an option to purchase up to an additional $200,000,000 principal amount of Series A
notes, an option to purchase up to an additional $200,000,000 principal amount of Series B notes and an option to purchase up to an
additional $200,000,000 principal amount of Series C notes.
Our ordinary shares are listed on the New York Stock Exchange under the symbol "RIG." The last reported sale price of our
ordinary shares on December 5, 2007 was $127.25 per share.
We do not intend to apply to list the notes on any securities exchange or include them in any automated quotation system.
Investing in the notes involves risks. See "Risk Factors" beginning on page S-24 of this prospectus supplement and on page 3 of
the accompanying prospectus.
Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these
securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any
representation to the contrary is a criminal offense.
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (2 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
Proceeds, before
Public Offering Price
Underwriting Discount




expenses, to us
Per
Per
Per
Total
Total
Total

Note
Note
Note
1.625% Series A Convertible Senior Notes due
2037

100%$
2,000,000,000
1%$
20,000,000
99%$
1,980,000,000
1.50% Series B Convertible Senior Notes due
2037

100%$
2,000,000,000
1%$
20,000,000
99%$
1,980,000,000
1.50% Series C Convertible Senior Notes due
2037

100%$
2,000,000,000
1%$
20,000,000
99%$
1,980,000,000
Total

$
6,000,000,000
$
60,000,000
$
5,940,000,000
The initial public offering price set forth above does not include accrued interest, if any. Interest on the notes will accrue from
December 11, 2007 and must be paid by the purchasers if the notes are delivered after December 11, 2007.
The underwriters expect to deliver the notes through the facilities of The Depository Trust Company against payment in New
York, New York on December 11, 2007.
Joint Bookrunning Managers
Goldman, Sachs & Co.

Lehman Brothers
Citi (Series A Notes & Series C Notes)

Credit Suisse (Series B Notes)
Joint Lead Managers
Calyon Securities (USA) Inc. (Series B Notes)
Credit Suisse (Series A Notes)
Fortis Securities LLC (Series C Notes)
JPMorgan (Series A Notes & Series B Notes)
UBS Investment Bank (Series A Notes, Series B Notes & Series C Notes)
Wells Fargo Securities (Series C Notes)
Prospectus Supplement dated December 5, 2007.
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (3 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
TABLE OF CONTENTS
Prospectus Supplement
Special Note Regarding Forward-Looking Statements
Where You Can Find More Information
Enforceability Of Civil Liabilities Against Foreign Persons
Summary
Risk Factors
Use Of Proceeds
Ratio Of Earnings to Fixed Charges
Price Range Of Ordinary Shares And Dividend Policy
Capitalization
Description Of Certain Other Indebtedness
Description Of The Notes
Material U.S. Federal Income Tax Considerations
Cayman Islands Tax Consequences
Underwriting
Legal Matters
Experts
Independent Registered Public Accounting Firm
Prospectus
About This Prospectus
Forward-Looking Information
About Transocean Inc.
Where You Can Find More Information
Risk Factors
Use Of Proceeds
Ratio Of Earnings To Fixed Charges
Description Of Debt Securities
Description Of Share Capital
Description Of Ordinary Shares
Description Of Preference Shares
Description Of Warrants
Anti-Takeover Provisions
Plan Of Distribution
Legal Matters
Experts
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (4 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
Independent Registered Public Accounting Firm
No dealer, salesperson or other person is authorized to give any information or to represent anything not
contained in this prospectus. You must not rely on any unauthorized information or representations. This
prospectus is an offer to sell only the notes offered hereby, but only under circumstances and in jurisdictions
where it is lawful to do so. The information contained or incorporated by reference in this prospectus supplement
and the accompanying prospectus is current only as of its date.
This document is in two parts. The first part is the prospectus supplement, which describes the specific
terms of the notes we are offering and certain other matters relating to our business. The second part, the
accompanying prospectus, gives more general information, some of which does not apply to this series of notes
we are offering. If the description of the notes varies between this prospectus supplement and the accompanying
prospectus, you should rely on the information in this prospectus supplement.
S-2
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (5 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus supplement and the documents incorporated by reference in the accompanying prospectus
contain both historical and forward-looking statements. All statements other than statements of historical fact are,
or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not
limited to, statements about the following subjects:
·
contract commencements,
·
contract option exercises,
·
revenues,
·
expenses,
·
results of operations,
·
commodity prices,
·
customer drilling programs,
·
supply and demand,
·
utilization rates,
·
dayrates,
·
contract backlog,
·
effects and results of the recent GlobalSantaFe merger, reclassification and related transactions,
·
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (6 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
regulatory approvals from the Office of Fair Trading for the United Kingdom and disposal of two
GlobalSantaFe floaters working in the U.K. sector of the North Sea,
·
planned shipyard projects and rig mobilizations and their effects,
·
newbuild projects and opportunities,
·
upgrade projects,
·
contract awards,
·
newbuild delivery dates,
·
expected downtime,
·
insurance proceeds,
·
cash investments of our wholly-owned captive insurance company,
·
future activity in the deepwater, mid-water and the jackup market sectors,
·
market outlook for our various geographical operating sectors,
·
capacity constraints for ultra-deepwater rigs and other rig classes,
·
effects of new rigs on the market,
·
income related to and any payments to be received under the TODCO tax sharing agreement,
·
refinancing of the Bridge Loan Facility, including timing and components of the refinancing,
·
uses of excess cash, including debt repayment,
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (7 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
·
issuance of new debt,
·
debt reduction,
·
planned asset sales,
·
timing of asset sales,
·
proceeds from asset sales,
·
our effective tax rate,
·
changes in tax laws, treaties and regulations,
·
tax assessments,
·
our other expectations with regard to market outlook,
·
operations in international markets,
·
the level of expected capital expenditures,
·
results and effects of legal proceedings and governmental audits and assessments,
·
adequacy of insurance,
·
liabilities for tax issues, including those associated with our activities in Brazil, Norway and the United
States,
·
liquidity,
·
cash flow from operations,
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (8 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
·
adequacy of cash flow for our obligations,
·
effects of accounting changes,
·
adoption of accounting policies,
·
pension plan and other postretirement benefit plan contributions,
·
benefit payments, and
·
the timing and cost of completion of capital projects.
S-3
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts ... Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (9 of 205)1/2/2008 10:15:28 AM


file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts due 2037, 1.50% Ser B Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm
Forward-looking statements included or incorporated by reference in this prospectus supplement and
accompanying prospectus are identifiable by use of the following words and other similar expressions, among
others:
·
"anticipate"
·
"believe"
·
"budget"
·
"could"
·
"estimate"
·
"expect"
·
"forecast"
·
"intend"
·
"may"
·
"might"
·
"plan"
·
"predict"
·
"project"
·
"should"
file:///T|/Rich/Transocean Inc, 1.625% Ser A Conv Sr Nts...Conv Sr Nts due 2037, 1.50% Ser Conv Sr Nts due 2037.htm (10 of 205)1/2/2008 10:15:28 AM


Document Outline